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As the U.S. economy has improved over the last
two years, the bank has received fewer delinquent payments and
fewer customers have required assistance staying in their homes,
the bank said in an email on Wednesday.
Wells Fargo, which will close the office in late July, will
inform employees of other job opportunities within the company,
the bank said.
Shares of Wells Fargo, which had about 265,000 employees as of
Dec. 31, were down about 1 percent at $54.82 in afternoon
trading on the New York Stock Exchange.
(Reporting by Avik Das and Amrutha Gayathri in Bengaluru;
Editing by Joyjeet Das)
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